Average private rent was €579 in Westmeath in third quarter of 2015

The average rent for all dwellings in the private rented sector in Westmeath in the third quarter of this year, of those registered with the Private Residential Tenancies Board (PRTB ), was €579.

This was up €26 when compared to the average rent in the second quarter of this year when the amount was €553, and up €43 when compared to the third quarter of 2014.

This data comes from the latest PRTB Quarterly Rent Index which is compiled by the Economic and Social Research Institute (ESRI ) for the Board. It is the most accurate rent report on the private accommodation sector as it is based on actual rents being paid, according to the PRTB’s records, as distinct from the advertised rent.

Monthly rents for private sector accommodation across the country were 8.6 per cent higher at the end of September this year compared with the same period last year. Nationally, rents for houses were 7.7 per cent higher, while apartment rents were 9 per cent higher than in the third quarter of 2014.

Commenting on the provisions of the new Residential Tenancies Act, the director of the PRTB, Anne Marie Caulfield, said: “It is very important that both landlords and tenants are aware of the new tenancy legislation which has just been passed. It provides that rent may only be increased once in a 24 month period (previously 12 months ). It also provides that 90 days advance notice must be given prior to any increase (previously 28 days ).

"As previously, rents may not be more than the market rate. The PRTB Rent Index provides information on average rents for five property types in 446 locations countrywide. In the event of a dispute, landlords and tenants can take a case to the PRTB for a fee of €15 and we will settle the matter."

The PRTB is planning to launch a further advertising campaign shortly to ensure that people generally, landlords, tenants, or would-be tenants are fully informed of the new legal position.

If people are interested in looking at the rent that applied for different dwelling types and for different locations in the county, they can check this out at www.prtb.ie by clicking on “rent index” and "average rents in my area".

 

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